Peerzada Abrar
 "Peerzada Abrar")
Peerzada Abrar
Peerzada Abrar is a technology and business reporter at Business Standard. He covers the intersection of technology, AI, business and society, and their impact on our lives. This includes tracking top tech firms and startups. He joined Business Standard in 2019 after having worked at The Economic Times and The Hindu, where he covered the entrepreneurship ecosystem, start-ups, new technologies, venture capital, and private equity. A storyteller at heart, he is captivated by the potential of innovation to address global challenges. His narrative spans from resilient communities combating epidemics and natural disasters to groundbreaking initiatives that empower the underserved and transform humanitarian landscapes.
Peerzada Abrar is a technology and business reporter at Business Standard. He covers the intersection of technology, AI, business and society, and their impact on our lives. This includes tracking top tech firms and startups. He joined Business Standard in 2019 after having worked at The Economic Times and The Hindu, where he covered the entrepreneurship ecosystem, start-ups, new technologies, venture capital, and private equity. A storyteller at heart, he is captivated by the potential of innovation to address global challenges. His narrative spans from resilient communities combating epidemics and natural disasters to groundbreaking initiatives that empower the underserved and transform humanitarian landscapes.
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Fintech firm Partior raises $60 mn Series B round led by Peak XV Partners
Partior, which has global unified ledger-based interbank rails for real-time clearing and settlement, will use the funds to support its international network growth
 "Fintech firm Partior raises $60 mn Series B round led by Peak XV Partners")
US investment firm Invesco reduces fair value of Pine Labs, Swiggy
Pine Labs plans $1 bn IPO in India after getting Singapore court's approval to shift base
 "US investment firm Invesco reduces fair value of Pine Labs, Swiggy")
Tens of thousands of small biz gear up to offer Prime Day deals: Amazon
The owners of small firms would offer deals on lakhs of products to customers across various categories such as home and kitchen, fashion and grooming on the e-commerce website
 "Tens of thousands of small biz gear up to offer Prime Day deals: Amazon")
Startup firm The Sleep Company achieves Rs 500 cr annual recurring revenue
The Sleep Company achieves Rs 500 crore annual recurring revenue; aims to become profitable by FY25
 "Startup firm The Sleep Company achieves Rs 500 cr annual recurring revenue")
Indians travelled close to 1,000 cities across world: Uber app usage data
Indians have been breaking all travel records over the past couple of years, according to Prabhjeet Singh, President, Uber India and South Asia
 "Indians travelled close to 1,000 cities across world: Uber app usage data")
Tech for better sleep: Wakefit launches AI-powered sleep solutions
The sleep technology firm has come up with the country's first-ever line of AI-powered sleep solutions; plans to scale up stores across major cities in 8-10 months as part of an omnichannel strategy
 "Tech for better sleep: Wakefit launches AI-powered sleep solutions")
Ola's Bhavish Aggarwal urges developers to shift from Google Maps
Ola is offering developers a year of free access to Ola Maps on the company's Krutrim Cloud and over Rs 100 crore in free credits
 "Ola's Bhavish Aggarwal urges developers to shift from Google Maps")
G.O.A.T Brand Labs raises $21 mn from BlackRock, Mayfield, others
While GOAT has completed the $21 million raise, the round is likely to get extended and close at about $30 million given the interest and the active discussions
 "G.O.A.T Brand Labs raises $21 mn from BlackRock, Mayfield, others")
Accel and Flipkart-backed Zinka Logistics Solutions files DRHP for IPO
The IPO, with a face value of Rs 1 each, is a mix of fresh issuance of Rs 550 crore and an offer for sale of up to 21.61 million equity shares by promoters and investor selling shareholders
 "Accel and Flipkart-backed Zinka Logistics Solutions files DRHP for IPO")
Looking to invest in AI, cybersecurity, Bharat: Accel's Prayank Swaroop
Accel is known for early investments in companies such as Meta, Slack, Dropbox, Flipkart, and Swiggy
 "Looking to invest in AI, cybersecurity, Bharat: Accel's Prayank Swaroop")
Long-overdue salaries: 62 ex-staffers plan to take Byju's to NCLT
About 62 former employees of Byju's have come together and sent a notice of filing an insolvency and bankruptcy case against the troubled edtech firm at NCLT if their pending dues are not paid
 "Long-overdue salaries: 62 ex-staffers plan to take Byju's to NCLT")
US-based AI company Glean Technologies launches its first office in India
Glean's launch in Bengaluru underscores its commitment to empowering Indian enterprises through advanced AI technologies and expanding its customer base in the Asia-Pacific region
 "US-based AI company Glean Technologies launches its first office in India")
NCLT asks Byju's to pay salaries to employees, warns firm of facing audit
The edtech firm has paid April, May salaries but is yet to make full payments for February and March
Wipro Consumer Care-Ventures leads investment round in snacks firm LetsTry
Founded in 2021 by Nitin Kalra, LetsTry offers premium quality snacks that resonate with the traditional tastes and preferences of Indian consumers
 "Wipro Consumer Care-Ventures leads investment round in snacks firm LetsTry")
Edtech major Byju's asks for 48 hrs to decide on selling or pledging shares
The edtech firm's US-based lenders have filed a plea to prevent the company from pledging, selling or transferring its shares
Unacademy gives pink slips to 250 employees in another round of layoffs
Unacademy has had multiple rounds of layoffs since 2022. Its workforce is down to below 3,000 as against 6,000 in the early part of 2022, according to sources
 "Unacademy gives pink slips to 250 employees in another round of layoffs")
Byju's second rights issue: Karnataka HC sets aside NCLT interim order
Byju's recently moved the Karnataka High Court challenging the order of the National Company Law Tribunal (NCLT) restraining it from going ahead with the second rights issue
 "Byju's second rights issue: Karnataka HC sets aside NCLT interim order")
Indian fast fashion industry poised to reach over $50 bn by FY31: Redseer
In FY24 alone, the fast fashion sector saw a remarkable growth rate of 30-40%
 "Indian fast fashion industry poised to reach over $50 bn by FY31: Redseer")
Former SoftBank managing partner Lydia Jett rejoins Flipkart's board
The Flipkart board also comprises HDFC chief executive Keki Mistry and senior Walmart executives
 "Former SoftBank managing partner Lydia Jett rejoins Flipkart's board")
YC-backed AI startup Pivot Robots raises funding from NuVentures
Pivot Robots, founded last year by two Carnegie Mellon University graduates Siddharth Girdhar and Vignesh Rajmohan, uses artificial intelligence to power automation in the manufacturing sector
 "YC-backed AI startup Pivot Robots raises funding from NuVentures")